New York may be home to some of the world's priciest real estate, but when it comes to upfront costs, it can be a bargain for buyers—at least compared with Hong Kong, Singapore and London.

An overseas buyer of a Hong Kong home priced at about $15.26 million can expect to pay nearly 25% of the purchase price in fees and taxes, or about $3.75 million. In New York, by contrast, a similarly priced apartment will cost a buyer $217,980 in fees and taxes. But there's a trade-off: New Yorkers are typically hit by far higher...